ADA Token Slides 6.21% After 44% July Surge as Profit-Taking Sparks Market Consolidation

Cardano (ADAUSDT) experienced a notable price decline of 6.21% over the past 24 hours, dropping from a 24-hour open of 0.7622 to a current price of 0.7149. This pullback follows a period of strong bullish momentum earlier in July, which saw ADA surge by over 44% month-to-date and more than 25% in the past week, driven by increased trading activity, a 36% rise in futures open interest, and positive sentiment around Cardano Foundation’s financial disclosures and adoption initiatives. However, as ADA approached key resistance levels near $0.75–$0.77, profit-taking and declining trading volume contributed to the recent price reversal, suggesting a potential consolidation phase after the rapid gains.

Currently, ADA is trading at 0.7149 with a 24-hour trading volume between $1.45 billion and $1.84 billion, and a market capitalization estimated between $25.43 billion and $26.60 billion, reflecting ongoing strong market participation despite short-term volatility.